The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-01
THE COTTON TRADE.
Great Increase in the Receipts.
Memphis Secures 663,s77 Bales, Of
the Value Of $3O,199, 500.
Increase In Bales. HILL; Ia Value,
$6,476,503
The story or Years Progress
Graphically Told by Onctal
Facts and Figures.

which begins today. There is no in
terregnum in the Southern cottol
business, and the LIST Of Septembe
marks the dividing line Of the seasons
In reviewing the past season it cal
be stated that it was q prosperou
one. There was a big crop, estimated
at $500, 900 bales. The exact numbe
Of bales for 1869 cannot now b,
given, because it takes time to &c
the necessary information as to tn,
overland movement and southern
consumption, but the above estimat,
is not far from correct. The croI
was nurtured in excellent weather
during the whole season over q large
district. and the summer was con.
spicuous for its lack Of conformity Ia
the ordinary oscillationsin weather
conditions. There was no excessive
moisture in the early months, no Sc
we're drouth or heavy summer food,
TO affect its progress toward q biz
crop. As early as in November, Mr..
Ellison, Of Liverpool, in his annual
report, estimated the American crop
at $685., 900 bales, which, with the
imports from India Of |, 40i, 900 bales,
and from other sources OF 3l2,O
bales, would give total supply for
Europe and America Of $4,000
bales Of ordinary weight, and which
In bales OF 400 pounds each would
equal about $500, 900 bales.
The quality of the crop was .upe.
rior, and rarely, il ever, did the re-
turns as TO cleanliness and color, com
bined with length Of staple, equal
those received of the present crop
during the season. by February LIST,
100000 bales had gone from the
plantations, so favorable was the
weather for picking.
In November the members OF the
Memphis Cotton Exchange got up
list OF estimates Of the crop Of
1861. The highest estimate was
7,29S,000 bales, the lowest 6,335 1856
bales, while the average OF seventy
six estimates was 6,755,570 bales.
There was some trouble early in the
season as to the standard types. A
national committee, composed of ex-
perts representing New York, New
Orleans, Savannah aud Norfolk ex-
changes, with Mr.. Frederic, a New
Orleans spot broker, as chairman, Sc
lected and agreed upon q standard;
but when sent South Savannah re-
pudiated il, as did also New Or
leans, and in consequence the New
York Cotton Exchange adopted q
resolution TO Withdraw from its mem.
bership in the Nation.l Exchange at
the close OF the current year.
At the opening Of the season in
September, 1886, the condition Of
cotton in the Memphis district was
most favorable, and it was predicted
that the yield would exceed the
Yields Of the previous three years.
BY October picking was progressing
rapidly throughout the district. aud
il was estimated that a very large
per cent OF the crop had been gath
cred by the LIST Of October. The sta
pie was moving rapidly to market.
and there was no disposition on the
part OF planters 10 hold cotton for
higher prices, middling cotton dur
ing October being quoted at sl6sic,
and as low As s 1916.
During November ard December
stocks accumulated rapidly in Mem.
phis, aud on the 18th OF December
VIC had stock on hand Of 1872 800
bales under cover. The price q mid.
ding fuctuated but little during De-
cember, and in January IL advanced
to9c. In February and March il kept
strong aud advanced to 10 Lice,
which IL reached in April. and
closed in that month at l0lc. During
Nav there was a further advance 10
l0ic, and in June midding reached
lc, the highest price Of the seassn
From that time prices commenced
falling, declining 10 1850. l0sc. l0Ec.
nc, and during the middle Of August
PIC, declining 10 &c.
IL is noticeable that the average
weight Of cotton was greater this |
year than last. Upon this point the |
hatcher, Miss Exchange recently |
issued a circular containing impor. |
ant iacts, as follows: Buyers in.
form MS that a list Of cotton ayerag.
ing i75 pounds per bale is worth |
l-l6c more than a list Of average
weight OF NatchcE cotton, I25 pounds.
This is true. for IL is evident that
he charges on heavy cotton are not
y great a. on light bales. To the
planter and merchant IL Isl clear
'sviDg Ia many respects independent
" the advantages in price. A heavy
,ale OF cotton costs no more in
reight than q light bale. In fact,
Nj liked charges, such as storage,
sampling aud drayage. cost
10 moro for a bale OF AS pounds
han for one Of 300 pounds. The
'xtr, cotton put in q bale may there
ore be said 20 be transported, drayed,
iored, weighed and sampled free OF
,bargc."
The old fashioned argument
Ipainst heavy bales was that light
,alcs paid lest because there was a
reater proportion Of bagging and
les 10 cotton, and as the rates were
~ gross weight, the planter obtained
he price Of cotton for wrapping and
lands. But buyers are shrewd
inough 10 their offers TO make al.
owance sufficient 10 cover every aud
" DEFICIENCIES that may stand in the
'ay Of a given price for net weight.
The cotton belt is almost bare Of
Id cotton. Probably there has been
cleaner sweep OF the crop Of 1886 81
han has ever before been tho case
nth any crop. Eleven cents per
,ound for August deliveries during
Iune seemed 10 act AZ loadstono 10
Irawing last bales from every nook
nd corner, and it is presumed that
ew who had the opportunity Jailed
o avail themselves OF the high prices.
The latest inspiration frem Mr..
ellison, the great English cotton
appears in a late issue OF